The decision of the Management Board of Invalda INVL on the purchase of own shares
05 July 2024 - 3:30PM
UK Regulatory
The decision of the Management Board of Invalda INVL on the
purchase of own shares
The Board of the public joint stock company Invalda INVL
(identification code 121304349, the registered address Gynėjų str.
14, Vilnius, Lithuania), taking into account the public joint stock
company Invalda INVL has formed and not realised the reserve for
the purchase of own shares which is equal to EUR 9,888 thousand and
considering the Resolution of the General Shareholders meeting held
on 30 April 2024, initiates the purchase of own ordinary registered
EUR 0.29 (twenty nine euro cents) nominal value shares. The
acquisition will be implemented through the market of official
offer of Nasdaq Vilnius stock exchange. It was decided to start the
purchase of shares after the end of the prohibited trading period
and after the announcement of the company's interim results for the
6 months of 2024.
Purchase conditions:
Share purchase starts on 2 September 2024.
Share purchase ends on 6 September 2024.
The maximum number of shares to be purchased is 67,430 units.
Maximum purchase price is EUR 1 million (one million euros)
The maximum purchase price of shares is EUR 14.83 per share (value
of consolidated equity per share as of 31 December 2023).
The purchase price of the shares shall be determined by the Dutch
auction principle, i.e. transactions shall be executed at a single
price.
Additional information:
Invalda INVL, the leading Baltic asset management group, will seek
to buy back its own shares, using EUR 1 million from its
accumulated reserves. The maximum purchase price will be EUR 14.83
per share, however, the buy-back will be carried out through Dutch
auction tender, which may result in a lower price in the event of a
higher supply.
According to the decision of the Management Board of Invalda
INVL, the buy-back of own shares will take place on 2-6 September
2024, following the publication of the company's interim results
for the first half of this year. The maximum number of Invalda INVL
shares to be acquired is 67,430 units (or 0.55% of the share
capital) and the maximum acquisition price is the value of the
consolidated equity per share at the end of 2023. In the event of
an oversubscription, 67,430 shares offered at the lowest price will
be purchased according to the Dutch auction principle, with all
sellers receiving the same price as determined by the stock
exchange algorithm.
Before the announcement of the buy-back, the price of Invalda
INVL’s shares on the stock exchange was EUR 14.00.
“The purpose of the share buy-back is to reduce the share
capital of Invalda INVL by cancelling the shares acquired by the
company and to meet the obligations related with employee stock
options. It is also an additional opportunity for investors wishing
to realise all or part of their shares", says Darius Šulnis, CEO of
Invalda INVL.
The shareholders of Invalda INVL made the decision to buy back
its own shares at a meeting held on 30 April of this year.
Currently, the company has accumulated a reserve of EUR 9.888
million euros for the purchase of its own shares.
The person authorised to provide additional information:
Darius Šulnis
CEO of Invalda INVL
E-mail darius.sulnis@invl.com
Invalda Invl Ab (LSE:0IJB)
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